If you have DAZ figures and clothes you don't even have to do that. Just select the object in the clothing's tree and set the physics. Now how well it works depends on the complexity of the clothes. Hell, even poser dynamic clothes will work if you don't mind polly pulling, Or you could do a cheep dirty rig on the poser dynamic clothes and parent the joints to pose it.

Ya, I've plaied around with this a lot lol, you have several options from with in carrara, especially with the tweaked physics in the 8.5 beta.

lol! I could do that using the Carrara rigged bones in iClone with the spring effects modifier!
I use it on lots of things, pity there is not a Daz/Poser/Carrara equivelant!
Sparrowhawk's jiggle would be the closest thing.

Basically I want it to interact with everything like a piece of cloth would do without falling off his head the same with most of his other cloth. I would like his clothes to interact with the environment with out having to make a movie of it. I want it to collide with my model, interact with everything it bumps, I want the clothes to have different settings. My model has a thick hat on it should act like a thick hat, he has chain mail on it should act heavy. He has other objects attach to him. I just want more realism I can't help, but have yearning for that which is natural, and should somehow exist within this program, and I know at least 50 percent should be possible by now. I just don't know how to do it after the model is rigged.

You know there should be a cloth painter tool. You know where you can paint the way you weight paint on the object and choose what kind of cloth settings you want. I wonder how hard it would be to implement that.

You know there should be a cloth painter tool. You know where you can paint the way you weight paint on the object and choose what kind of cloth settings you want. I wonder how hard it would be to implement that.

Sparrowhawke's JIGGLE plugin works this way, combined with 3Dpaint you could paint the amount of jiggle onto a model (or fabric elasticity)